Daily Report · August 10, 2021

Morning Pulse 10/08/21

  • Nifty seems like consolidating now after breaking the 16k barrier. Overall breadth of the market doesn’t seem very promising.
  • A lot of IPO’s came in last week and few are running now. Promoters are very well capitalising the bull market by dumping the shares to public.
  • Since, index is bullish I am looking for PE sells at breakouts and supports with intraday call sells from resistance. Will be employing a more tactical approach.
  • US markets are at all time highs too, now only employment data seems to matter in short term.
  • Commodities including gold and silver seems to have slowed down and waiting for more information.
  • Meanwhile in RRP land, daily close to $1tn dollars are parked at FED reverse Repo Facility. Now it is a common operation and nobody seems to be fazed by it.